TPC (Tutor Perini) Beneish M-Score: -3.64 (As of Jun. 24, 2026)


TPC Tutor Perini Corp TPC
64 GF Score
Price $83.09
GF Value $32.49
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Tutor Perini Beneish M-Score?

Tutor Perini TPC +2.58% 64 Beneish M-Score is -3.64 as of Jun. 24, 2026. GuruFocus rates TPC with a GF Score™ of 64/100 and a GF Value™ of $32.49 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,704 Construction companies, Tutor Perini ranks better than 93.13% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -3.64 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Tutor Perini's Beneish M-Score or its related term are showing as below:

TPC' s Beneish M-Score Range Over the Past 10 Years
Min: -7.23   Med: -2.5   Max: 3.34
Current: -3.64

During the past 13 years, the highest Beneish M-Score of Tutor Perini was 3.34. The lowest was -7.23. And the median was -2.50.


Tutor Perini Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tutor Perini's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Tutor Perini Beneish M-Score Chart

Tutor Perini Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.29 3.34 -3.45 -3.38 -3.41

Tutor Perini Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.85 -3.13 -3.61 -3.41 -3.64

TPC vs KBR, EXPO, AMRC: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Tutor Perini's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Tutor Perini Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Tutor Perini's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tutor Perini's Beneish M-Score falls into.


TPC
64GF Score
Tutor Perini Corp TPC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tutor Perini Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Tutor Perini for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.7419+0.528 * 0.4069+0.404 * 0.7995+0.892 * 1.2567+0.115 * 1.3252
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.159+4.679 * -0.161064-0.327 * 1.0337
=-3.64

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $2,645 Mil.
Revenue was 1389.458 + 1507.365 + 1415.36 + 1373.681 = $5,686 Mil.
Gross Profit was 154.633 + 147.724 + 169.395 + 195.995 = $668 Mil.
Total Current Assets was $4,099 Mil.
Total Assets was $5,138 Mil.
Property, Plant and Equipment(Net PPE) was $555 Mil.
Depreciation, Depletion and Amortization(DDA) was $49 Mil.
Selling, General, & Admin. Expense(SGA) was $442 Mil.
Total Current Liabilities was $3,210 Mil.
Long-Term Debt & Capital Lease Obligation was $391 Mil.
Net Income was 25.696 + 28.837 + 3.631 + 19.974 = $78 Mil.
Non Operating Income was 10.726 + 9.163 + 7.457 + 6.204 = $34 Mil.
Cash Flow from Operations was 146.863 + 173.669 + 289.121 + 262.412 = $872 Mil.
Total Receivables was $2,837 Mil.
Revenue was 1246.633 + 1067.649 + 1082.816 + 1127.47 = $4,525 Mil.
Gross Profit was 134.401 + -9.462 + -25.828 + 117.078 = $216 Mil.
Total Current Assets was $3,489 Mil.
Total Assets was $4,454 Mil.
Property, Plant and Equipment(Net PPE) was $441 Mil.
Depreciation, Depletion and Amortization(DDA) was $53 Mil.
Selling, General, & Admin. Expense(SGA) was $303 Mil.
Total Current Liabilities was $2,628 Mil.
Long-Term Debt & Capital Lease Obligation was $392 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(2645.214 / 5685.864) / (2837.417 / 4524.568)
=0.465226 / 0.627113
=0.7419

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(216.189 / 4524.568) / (667.747 / 5685.864)
=0.047781 / 0.11744
=0.4069

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (4099.082 + 554.766) / 5137.579) / (1 - (3489.07 + 440.626) / 4454.298)
=0.094155 / 0.117774
=0.7995

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=5685.864 / 4524.568
=1.2567

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(52.779 / (52.779 + 440.626)) / (48.712 / (48.712 + 554.766))
=0.106969 / 0.080719
=1.3252

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(441.929 / 5685.864) / (303.423 / 4524.568)
=0.077724 / 0.067061
=1.159

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((390.787 + 3209.627) / 5137.579) / ((391.75 + 2628.163) / 4454.298)
=0.7008 / 0.677977
=1.0337

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(78.138 - 33.55 - 872.065) / 5137.579
=-0.161064

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Tutor Perini has a M-score of -3.64 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -3.64 mean?
Tutor Perini (TPC) has a Beneish M-Score of -3.64 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tutor Perini and its competitors. According to the industry distribution chart, Tutor Perini ranks #117 out of 1704 companies in the Construction industry, placing it in the top 6.9%.
Is Tutor Perini's Beneish M-Score too high?
Tutor Perini's current Beneish M-Score is -3.64. Based on the distribution chart, Tutor Perini ranks #117 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Tutor Perini has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tutor Perini's Beneish M-Score compare to KBR and EXPO?
According to the Construction industry distribution chart, Tutor Perini ranks #117 out of 1704 companies for Beneish M-Score. This places Tutor Perini in the top 7% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Construction company?
A good Beneish M-Score depends on the Construction industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tutor Perini and its competitors. Tutor Perini's current Beneish M-Score is -3.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tutor Perini stock overvalued right now?
Based on GuruFocus' analysis, Tutor Perini (TPC) is currently considered Significantly Overvalued. The stock's GF Value™ is $32.49, compared to a current price of $83.09 — trading 155.7% above its estimated fair value. The current Beneish M-Score is -3.64. Tutor Perini's overall GF Score™ is 64/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Tutor Perini (TPC), the current Beneish M-Score is -3.64 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Tutor Perini (TPC) Overvalued in 2026?

Based on GuruFocus' analysis, Tutor Perini stock appears to be overvalued. The current stock price of $83.09 is trading 155.7% above its estimated GF Value™ of $32.49. GuruFocus considers Tutor Perini to be Significantly Overvalued.

Key valuation signals for TPC:

  • Beneish M-Score: -3.64
  • GF Value™: $32.49 vs. price of $83.09 (155.7% above fair value)
  • GF Score™: 64/100 with 3 warning signs

No single metric tells the full story. See the TPC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tutor Perini Business Description

Other Exchanges PE2:Germany
Address 15901 Olden Street, Sylmar, CA, USA, 91342
Tutor Perini Corp offers general contracting, construction management, and design-build services to private and public customers. The company constructs and repairs transportation infrastructure, water-treatment facilities, and a wide range of buildings. Tutor Perini has three operating segments: Civil, Building, and Specialty Contractors. A majority of its revenue is generated from the Civil segment, which specializes in public works construction and the replacement and reconstruction of infrastructure. Its civil contracting services include construction and rehabilitation of highways, bridges, tunnels, mass-transit systems, military and other government facilities, and water management and wastewater treatment facilities. Geographically it derives key revenue from the United States.
64GF Score

Get the complete analysis for TPC

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$83.09
Price
$32.49
GF Value